PARIS, May 3 French President Nicolas Sarkozy
and Socialist Francois Hollande clashed repeatedly in their only
television debate but the conservative incumbent failed to land
a knockout blow to shake his challenger's lead for Sunday's
runoff.

Hollande, ahead in opinion polls by six to 10 points, seemed
calm and unflappable during the nearly three-hour debate on
Wednesday while Sarkozy, struggling to catch up with the
moderate social democrat, was often agitated and tense.

Political commentators said the confrontation was no
game-changer and probably only reinforced voters' opinions of
their two champions in a contest that has been as much about
style and personality as substance.

"This debate should not shift things and as Francois
Hollande is in the position of favourite, he's the one that
should benefit," said analyst Jerome Fourquet at pollster Ifop.

French television commentators concluded that Sarkozy had
performed "like a boxer" and Hollande "like a judo fighter",
using touches of wit and interjections to unbalance his
adversary.

Hollande, 57, was confident and relaxed in early exchanges,
saying he aimed to be "the president of justice", "the president
of revival" and "the president of unity".

He said Sarkozy, also 57 and in office since 2007, had
divided the French people for too long and was using the global
economic crisis as an excuse for broken promises. "With you it's
very simple: it's never your fault," Hollande said.

Sarkozy, fighting for his political life, repeatedly accused
his opponent of lying about economic figures and reeled off
reams of statistics in an attempt to unbalance his rival.

"Mr Hollande. When you lie so shamelessly, do I have to
accept it?" he asked when his opponent said the president was
always happy with his record.

The two sparred over Europe, which has become one of the
biggest issues of the election race, along with the sickly
economy, rife unemployment, nuclear power and immigration.

"The example I want to follow is Germany and not Spain or
Greece," Sarkozy said, declaring that he and German Chancellor
Angela Merkel had saved Greece from an economic wipeout and
avoided the collapse of the euro currency.

"Europe has got over it," Sarkozy said of the crisis.

Hollande shot back: "Europe has not got over it. Europe is
today facing a possible resurgence of the crisis with
generalised austerity, and that's what I don't want."

Hollande, who vowed to push for a new focus on growth to
allow the euro zone to convalesce, said people across Europe
were watching the election in the hope it would change the
bloc's economic direction for the better.

BARBED EXCHANGES

The conservative head of state and his centre-left rival
have duelled at a distance for months, with Sarkozy accusing
Hollande of being incompetent and a liar, and Hollande branding
the incumbent a "failed president" and "a nasty piece of work".

Sarkozy, being punished for rife unemployment and a brash
manner, is the most unpopular president to run for re-election.
He was the first in recent history to lose a first-round vote,
with Hollande benefitting from the anti-incumbent sentiment that
has swept 11 euro zone leaders from office since 2009.

Wednesday's duel was carried live on channels that reach
roughly half France's 44.5 million voters. The streets of Paris
were unusually deserted with many people staying home to watch.

A handful of opinion polls due to land before Friday evening
will measure any impact.

"It threw into sharper relief the strengths and weaknesses
of both candidates: a tough-talking and often condescending
Sarkozy determined to pick holes ... and a milder-mannered yet
feisty Mr Hollande," said London analyst Nicholas Spiro. "There
was no knock-out blow or major slip-up on either side."

Sarkozy suffered a setback on Tuesday when far-right leader
Marine Le Pen - whose 17.9 percent score was the surprise of the
first round - refused to endorse him. She vowed at a Paris rally
to cast a blank vote and told her supporters to make their own
choice, focusing most of her attacks on Sarkozy.

The issue of how to deal with the anti-immigration crusader
and her supporters has tormented Sarkozy's UMP party all week,
as a TNS Sofres opinion poll found a third of voters agreed with
the National Front's positions.

The candidates tangled on immigration in the debate, with
Sarkozy attacking Hollande's proposal to give long-term,
non-European foreign residents the right to vote in local
elections.

Sarkozy began campaigning weeks after the more plodding
Hollande, vowing to boost industrial competitiveness, hold
referendums on contentious policies, crack down on tax exiles
and make the unemployed retrain as a condition for receiving
benefits.

More recently, seeking to court the 6.4 million National
Front voters, he has vowed to cut immigration and threatened to
pull out of Europe's Schengen zone of passport-free travel
unless the European Union's external borders are strengthened.

Recent polls show Hollande with a slightly tighter but still
comfortable lead. A BVA survey on Wednesday put the gap 1 point
narrower at 7 points, with the rivals at 53.5 and 46.5 percent.
(1 = 0.7603 euros)
(Additional reporting by Daniel Flynn, Alexandria Sage, John
Irish, Pauline Mevel, Emmanuel Jarry and Elizabeth Pineau;
Editing by Paul Taylor and Michael Roddy)

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